Stanbic Bank is a division of Standard Bank, a member of the Standard Bank Group, based in Johannesburg, South Africa. Stanbic Bank Kenya We know you have aspirations and may need a little help to get ahead. Our personal unsecured loans allow you to choose the product that suits your needs. CfC Stanbic Bank offers you a wide range of loan products to help you meet both your short term and long term financial obligations. Competitive interest rates. Stanbic Bank Kenya Loans
In this article, we will share different types of Stanbic Bank Kenya loans. Stanbic Bank Kenya is a commercial bank in Kenya that was founded in 1958. Its headquarters are in Nairobi, Kenya. Stanbic Bank Kenya also offers loans and below are 3 different types of loans offered by Stanbic Bank Kenya.
Overview
Stanbic Bank was adopted as a trading name in 1992, when the Standard Bank Group, then known as Standard Bank Investment Corporation, acquired the African operations of ANZ Grindlays Bank. The new name was adopted to avoid confusion with the Standard Bank’s British former parent bank, Standard Chartered Bank, which continued to operate in Africa.[1]
Standard Bank now trades under the name Stanbic Bank in Botswana, the Democratic Republic of the Congo, Ghana, Kenya, Malawi, Nigeria, South Sudan, Tanzania, Uganda, Zambia and Zimbabwe.
The Standard Bank Group also trades as Standard Bank in Namibia, Swaziland, South Africa, Lesotho, Mauritius, Angola and Mozambique. In Madagascar, the group is represented by Union Commercial Bank.[2]
Business Activity
In September 2012, Stanbic Bank Tanzania secured financing worth $3 billion for Mchuchuma Iron Ore and Liganga Coal mining project in the Ludewa district of the newly created region of Njombe in southwestern Tanzania.
In 2015 Stanbic Bank was involved in a fraud scandal involving money transfers from the Swedish embassy to private accounts of a former embassy employee
Types of Stanbic Bank Kenya Loans
1. Personal Unsecured Loans
This type of loan is normally issued to people who have aspirations and may need a little financial help to get started.
Features
- Minimum loan amount one can borrow is Ksh. 50,000.
- Maximum loan amount one can borrow is Ksh. 4 million.
- After 6 months of repaying personal unsecured loan, one is allowed to top-up their loan.
- Facility fees and interest rates are very competitive.
- All loans comes with credit life insurance.
- Upon submitting all supporting documents, your loan will be approved within 2 days (48 hours).
Requirements
- Employed for the past 2 years.
- Salaried employee earning at least Ksh. 40,000 every month.
- Recent pay slips.
- Copy of National ID or Passport.
- Copy of Pin Certificate.
- Well drafted letter from your employee confirming terms of employment.
- Bank statements for the past 6 months.
Download Stanbic Bank Kenya personal unsecured loan application form HERE.
2. Vehicle and Asset Finance Loan
This type of loan is normally issued to people who want to purchase moveable assets such as cars for personal use.
Features
- Interest rates are very competitive in both foreign and local currency.
- Fast response to people who want to apply for hire purchase.
- Financing terms for up to 4 years (48 months) are flexible.
- Financing of cars ranging from Saloon cars to Pick-ups to earthmovers and prime movers.
- Financing of both new and used assets.
- Assets will remain property of Stanbic Bank Kenya for term of the loan and ownership will be transferred upon completion.
- Insurance premium financing.
- Auto-generated polite reminders of insurance expiry.
Requirements
- Completion of application form.
- Bank statements for the past 6 months.
- Certified copies of National ID and KRA PIN.
- Articles and memos for companies or institutions.
- Pro-forma invoice for dealer/seller.
- Valuation report for used units.
- Certified copies of logbook (for used units).
3. Land Financing Loan
This type of loan is given to people who want to purchase residential plots in Mombasa and Nairobi.
Features
- Maximum loan term is 10 years.
- Maximum loan amount one can borrow is Ksh. 20 million.
- Finance for a maximum of 50% of the property’s worth.
- Interest rates are very competitive.
- 2% is the arrangement fee for the loan amount.
Requirements
- Copy of latest pay slips/proof of income.
- Certified copy of your employment contract (expatriates only).
- Certified copy of KRA PIN certificate.
- Bank statements for the last 12 months (1 year).
- Reference letter from your employer.
- Copy of National ID or Passport.
- 2 years audited statements for limited companies.
Stanbic Bank Kenya Contact
Phone: 0800 720 044 or 0714 512 321
Email: customercare@stanbic.com
Click here for the Complaints Handling Procedure
